Biggest Investment
The e-commerce company COUPANG (Ceo Kim Bom-seok) has just raised US$300 million from investors on Dec. 11 led by the world's biggest asset management company, U.S.-based BlackRock.
COUPANG has gotten the largest investment in the history of Korea's unlisted IT and e-commerce industries, following the investment of US$100 million from U.S. venture capitalist Sequoia Capital six months ago.
The investment has been led by BlackRock with global investment institutions such as Wellington Management Company, Greenoaks Capital Management, and Rose Park Advisors participating.
BlackRock Managing Director Jay Park said, “COUPANG is one of the e-commerce companies with the biggest and fastest growth,” adding, “We decided to invest in COUPANG with the judgment that its differentiated on-day-delivery service and abundant mobile service experiences will make COUPANG an e-commerce leader in the global market as well as in Korea.”